No person, firm, company, partnership or corporation, either domestic or foreign, unless lawfully authorized to do business in this state under the provisions of this act, shall do business in this state under any name or title which contains the terms "savings and loan", "building and loan", "savings association", "savings bank" or combination of such terms in any manner which indicates or reasonably implies that his or its business is of the character or kind carried on or transacted by a savings and loan association, or that is likely to lead any person to believe that such business is that of a savings and loan association. Upon application by the Commissioner, or any association, a court of competent jurisdiction may issue an injunction to restrain any such entity from violating or continuing to violate the provisions of this section.

Amended by Laws 1988, HB 1743, c. 65, § 15, emerg. eff. March 25, 1988.